Japanese Government Approves Defense Buildup PlanThe Japanese government on Sunday gave nod to a defense buildup program for fiscal 2001 which includes the development of advanced antisubmarine patrol planes and cargo aircraft, Defense Agency chief Toshitsugu Saito said.Saito said the plan, approved in a Security Council meeting chaired by Prime Minister Yoshiro Mori, is aimed at replacing the Self-Defense Forces (SDF) P-3C jets and C-1 cargo craft through expenditures of 34 billion yen (302 million dollars) over the next decade. The council also decided to cut the total number of Ground Self- Defense Force personnel by 3,600, while adding about 830 reserve officers and roughly 100 workers to the Joint Staff Council. In addition, the Security Council authorized the deployment or manufacture in fiscal 2001 of 12 F-2 support fighters, 18 90-type tanks, one destroyer and one submarine. The Japanese government approved a record-high 4,955.3 billion yen (44.1 billion dollars) for defense spending in the budget for fiscal 2001, which starts April 1, up 0.4 percent from the initial budget for the current fiscal year. A total of 767 billion yen (6.8 billion dollars) was earmarked for "front-line equipment", including vehicles such as tanks, ships and aircraft. Japanese Government Adopts Fiscal 2001 BudgetThe Japanese government adopted an 82,652.4 billion yen (734.7 billion dollars) budget for fiscal 2001, down 2.7 percent from the initial fiscal 2000 budget in the first decline in six years.However, spending on discretionary policy measures for the next fiscal year starting in April next year will reach a record-high 48,658.9 billion yen (432.5 billion dollars), up 1.2 percent in an indication that the Japanese government is determined to get the country's economy back on track amid prevailing uncertainties over its future. Spending on discretionary policy steps, known as general expenditures, is the largest component in the general-account budget and covers everything from defense to education. The budget is aimed at attaining an economic growth target of 1. 7 percent for fiscal 2001. It features prioritized allocations for the government's four key policy areas -- information technology (IT), environmental protection, the aging of society and urban development. Of the total 9,435.2 billion yen (83.9 billion dollars) in public works spending, the budget sets aside about 3,600 billion yen (32 billion dollars) for the four areas. The Japanese government will submit the budget for approval to an ordinary Diet session convening in January. Under the massive spending plan, Japan's finances will further deteriorate, with the combined balance of long-term debt carried by Japan's central and local governments being expected to balloon to 666 trillion yen (5920 billion dollars) as of the end of March 2002, up 24 trillion yen (213.3 billion dollars) from the end of March 2001. The budget projects total revenues in fiscal 2001 will rise 4.2 percent to 54,334.4 billion yen (482.9 billion dollars). The increase will help the government reduce the issuance of new bonds to 28318.0 billion yen (251.7 billion dollars), down 13.2 percent. |
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